It’s game over for the HRTF1 Team, after the FIA’s latest release of its 2013 Formula 1 season entry list showed that the Spanish team has failed to submit payment to compete in the upcoming season.

The team was put up for sale by owners Thesan Capital in the days leading up to the United States Grand Prix a fortnight ago, and while attempts were made to find a buyer before the Friday deadline to make next year’s grid, no one has stumped up the cash to rescue the team.

While no one from the team has officially spoken on the record about the latest news, it is believed that the team will work to pay off all of its creditors before shutting down the team.

It will become the first team to close its doors since the Super Aguri outfit was shut down in mid-2008 – making it the 107th team to have closed in the modern-era history of Formula 1